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Norsemont Intersects 1.58% Copper in Step-Out Drilling at the Constancia Project
Vancouver, Canada (ots/PRNewswire) - Norsemont Mining Inc. ("Norsemont" or "the Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045) is pleased to announce results from the fourth and fifth Phase II diamond drill holes targeting the Constancia Zone at the Constancia Copper-Molybdenum-Silver-Gold Porphyry Project in southern Peru.
Drill hole CO-06-045 is a step-out hole in the north-central part of the Constancia zone. The upper part of the hole contained a combination of post-mineral dike and leached capping to 150 meters, below which secondary chalcocite mineralisation was encountered in monzonite. This mineralisation is in a step-out area that was previously thought to be beyond the boundary of the mineralised zone, based on the surface geology.
Drill hole CO-06-046 is an infill hole in the southern part of the Constancia zone. The hole commenced in skarn mineralisation to approximately 93 meters. Below 93 meters, leached capping and secondary chalcocite was encountered to below 200 meters. The 200 meter interval represents skarn sulfides and secondary chalcocite mineralisation, typical of this part of the Constancia zone, which is open-ended to the south.
@@start.t1@@ TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
DRILL FROM TO INT. Cu Mo Au Ag CuEQ
HOLE (m) (m) (m) (%) (%) (g/t) (g/t) (1)
CO-06-45 150.00 164.00 14.00 1.07 0.01200 0.0690 10.60 1.28
171.85 196.00 24.15 1.58 0.00280 0.0500 9.10 1.71
CO-06-46 0.00 200.00 200.00 0.57 0.01200 0.0890 2.87 0.72@@end@@
Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.20 per lb, Molybdenum US$8.00 per lb, Gold US$450 per oz., and Silver US$7.50 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus Mo percent times (8.00/1.20) plus Au grams per tonne times 14.47/(1.20(x)22.05) plus Ag grams per tonne times 0.24/(1.20(x)22.05).
The majority of future holes will be step-out holes on 100 meter centers, similar to the program carried out in 2005, for the purpose of calculating a resource estimate for the property. Two drill rigs are currently operating on site.
Marc Levy, Norsemont President & CEO, stated, "As with the results reported late last week, this infill hole continues to show excellent continuity within the mineralised zone. The copper grades in the step-out hole are some of the highest continuous grades of copper in chalcocite encountered to date."
The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P. Geo., Norsemont's Qualified Person as defined by NI 43-101. Mr. Henrickson has reviewed and approved information contained in this news release. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.
A plan map with drill hole locations will be available shortly on Norsemont's website at www.norsemont.com
About Norsemont Mining
Norsemont Mining is a well-structured, well-financed exploration company working in the Americas, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and exploration is underway at the Amata Ag-Au property acquired from Rio Tinto. Norsemont recently completed financings totaling US$14 million.
Marc E. Levy, President & CEO, Norsemont Mining Inc.
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